Nasdaq pulls out of Oslo Bors race leaving the way clear for Euronext May 27, 2019 Nasdaq has bowed out of the race for Norwegian exchange Oslo Bors, leaving the way clear for pan-European exchange Euronext to pursue its bid. Euronext received approval from Norway’s finance ministry earlier this month to buy more than 50 per cent of Oslo Bors for 158 Norwegian crowns per share, effectively blocking Nasdaq’s bid. Read [...]
Renault board examining £28bn merger proposal from Fiat Chrysler May 27, 2019 The board of French carmaker Renault are studying a proposed £28bn merger plan put to them by American-Italian rival Fiat Chrysler (FCA) today. The deal would create the third-largest car company worldwide behind Japan’s Toyota and Germany’s Volkswagen with sales of 8.7m per year. Investors in both companies welcomed the proposed deal which aims to [...]
Tory leadership race: Who are the leading candidates to replace Prime Minister Theresa May? May 24, 2019 Theresa May's resignation today kicks off a Tory leadership race that could see more than a dozen candidates throw their hats into the ring. The leadership battle had already begun, with leading candidates raising cash, putting together support teams and giving the Sunday papers softball interviews in their kitchens. Some leadership contenders have publicly stated [...]
‘Exit on WTO terms is still a very real possibility’: City reacts to Theresa May’s resignation May 24, 2019 Business groups reacted today to the resignation of Theresa May as Prime Minister. The interim director of the Institute of Directors Edwin Morgan said: “To borrow a phrase, nothing has changed, or at least, very little has. A new leader will be faced with the same political challenges and the same economic realities. “No deal [...]
Theresa May’s resignation: Political allies and rivals react May 24, 2019 Prime Minister Theresa May said today she would step down as Prime Minister on 7 June after the failure of her flagship Brexit policy. Her resignation triggers a contest for the leadership of the Conservative Party and the keys to 10 Downing Street. Read more: Theresa May will quit as Tory party leader on 7 June [...]
Mothercare’s annual loss jumps to £87m, delayed annual results reveal May 24, 2019 Mothercare’s annual loss grew to £87.3m in the last financial year it said today in a delayed set of annual results. The struggling retailer was due to report its results yesterday, but pushed back its report to today because of the “complexity” of its finances, sending shares down 5.2 per cent. Sales fell 7.9 per cent to [...]
Stagecoach sues Department for Transport over West Coast rail franchise May 24, 2019 Stagecoach said today it had launched a legal claim against the Department for Transport (DFT) in connection with the competition for the West Coast rail franchise. Read more: Arriva takes government to court over East Midlands franchise award It said it had issued a High Court and judicial review claim alleging that the DfT breached [...]
These are the top 25 best-paying companies in the UK May 23, 2019 A report released today has revealed that the UK's 25 highest paying company's offer staff between £61,000 and £90,000 as a median compensation package. The list by job site Glassdoor is dominated by finance and tech firms, three of which have their headquarters in the UK. John Lamphiere, EMEA managing director at Glassdoor, said: “It [...]
B&M to open 50 UK stores this year despite retail doom and gloom May 23, 2019 Discount retailer B&M said today it plans to open 50 shops this year, despite the wider gloom in the UK retail sector. B&M grew revenue 17 per cent to £3.4bn and profit before tax 8.7 per cent to £249.4m in the 52 weeks to 30 March. The company said it opened 44 new stores in the financial [...]
Competition watchdog accuses drugs companies of illegal market sharing May 23, 2019 The competition watchdog today said it was launching a probe into four pharmaceutical companies which it said colluded to raise the price the NHS paid for a nausea treatment medicine. The Competition and Markets Authority (CMA) said it had provisionally found that Alliance, Focus, Lexon and Medreich had agreed not to compete for the supply [...]
